Stocks Fall Globally on Cyprus Deal

This transcript has been automatically generated and may not be 100% accurate.

... the the ... the beest live I'm Simon Constable is the sum of the people ... mostly in the right to say that now ... aam cycling round about sixty four lower and as the tech heavy Nasdaq point three percent lower ... and the pick stocks index of five percent lower at two fifteen fifty two pitch to eye off the all-time high ... hit a tells all about that Jonathan Cheng all the Wall Street John ... Jonathan ... I suspect I know why this is Cyprus me and think that's pretty close to the answer ... aam ... Dell today I don't know that we should be too surprised competitors dancing with the people were expecting ... again ... based on a lease on the futures markets pouring and ... the factory in a deal or deals better than no deal of tension that bought ... this is a deal to keep Cyprus in the euro zone ... that's right bailout the banks to some extent and enclose some ... bright spots I that's being done at the expense of many depositors with money in Cyprus banks ... and I think the you really are now is is not too different from what we were when the first deal was floated to seven days ago Monday ... aam ... the sanctity of bank deposits is is ... basically broken ... the Russians are to be upset will ... wait to see what ... they do in response the income will come back to the Russian bet that the things that may be playing out here ... aam but we also have a European official outing today saying business model which will be right as Lava crises ... maps can't people anecdotes went to the heart of the concern that initially had which is ... on bank deposits hospice be touched that have been touched so they were touched in the financial crisis going on and ... on and they haven't been cut so far in the euro crisis either and ... now we're certain see that what we have that initial reaction last Monday ... a lot of the outrageous because they were ... getting ... mom and pop ... them Cyprus and then there's the dividend and how ... much I love without really can have on the PA system ahead ... of the people of a lot more money but are still dominate the planet still to be taken right out of the bank's accounts so ... they can and it's not great news to the forty forty percent hit to the ... amounts above one thousand US dollars one thousand U S ... now you've got a lot of brush money that in Cyprus at that level and you will somewhat ... come to show my need money being ... thriving what's been going on ... throughout the euro and was included in Cyprus this time ... is this the bolts of the ... rivalry between Russia and Gemini something that goes ... back a long way into the the twentieth century or ... in Cyprus of course is not just important right now economically and then for the ... denim the ... integrity of the European Union but of course ... I'm too politically support as well with the throw the towel in the history as you point out and ... how we know that their deftly and when tensions coming in days ahead aam in terms of how this exactly plays out ... and indeed whether or not this becomes a model for other countries that believe that that ... comment ... was backtracked but I think the idea here is that ... you can see the so the stuff the markets because they don't wanna have ... we have to ... wonder about why can help price now become Medicare cuts Russ got together and thank you very much Jonathan Cheng The will Street gentle or the Cyprus coverage on the vs day don't come